Goldman appoints Asia e-trading head

Ian Smith appointed at a time when institutional investors are increasingly demanding faster, cheaper access to markets.

Lloyd Blankfein, Goldman Sachs’ chief executive, said in 2012 that the Wall Street firm aims to be a low-cost bulk-service provider in electronic trading.

Goldman Sachs has named Ian M. Smith as a managing director and head of electronic trading for the firm across the Asia-Pacific region, according to an internal memo seen by FinanceAsia.

His appointment comes as the shift towards trading electronically is speeding up this year as volumes, led by Japan, have surged, high-frequency traders returned to Asia in force and as large institutional investors looked to cut trading costs and made more...